BRE Properties Gets $4.6 Billion Investor Buyout Offer
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BRE Properties Inc., a San Francisco-based apartment landlord, rose to a two-month high after Land & Buildings said it and an investor group offered to buy the company for about $4.6 billion.
Land & Buildings, an investment firm focused on real estate securities, is part of a consortium that made an offer of $60 a share last month, the Greenwich, Connecticut-based company said in a statement today. Land & Buildings asked the real estate investment trust to form a committee to consider a sale.